U.S. to preserve economic expansion

Fed will continue to act 'as appropriate' to sustain U.S. growth

"They were WAY too early to raise [rates], and Way too late to cut", said Trump. "Where did I find this guy Jerome", the president said via Twitter. Oh well, you can't win them all!' Trump wrote.

Nonetheless, aside from his common phrases to address future U.S. monetary policy, Fed's Powell had been quoted saying in his Friday's (Sept. 6th) speech in the University of Zurich that Fed policymakers were closely observing geo-political hobbles, unprecedented waves in the financial markets alongside other economic data to contemplate plausible options to better prepare for a caustic global economic outlook. "The labor market continues to be the strongest point of data across the economic landscape, and that's not what has been the catalyst for the Fed shifting to an easing bias", added Merz.

Powell, who spoke a few hours after the jobs report, said it was his expectation the United States and world economies would continue to grow moderately and would avoid any recession.

'We've been hearing quite a bit about uncertainty.

Powell told the forum organized by the Swiss Institute of International Studies that inflation remains the Fed's major concern.

It was his first public appearance since his remarks at the Fed's annual monetary conference in Jackson Hole, Wyo., on August 23.

Powell is scheduled to speak about the USA economic outlook and interest-rate policy at the University of Zurich at 6:30 p.m. local time, or 12:30 p.m.in NY.

'We don't have a Tariff problem (we are reigning in bad and/or unfair players), we have a Fed problem. "That's one of the reasons why the outlook is still a favourable one despite these crosswinds we've been facing".

Powell is the last public Fed speaker ahead of the September 17-18 interest-rate setting meeting.

Former Fed official Bill Dudley, former head of the Fed's NY regional bank, had made that suggestion in an opinion piece last month. 'Political factors play absolutely no role in our process. "We're strongly committed to nonpolitical decision-making".

"We serve all Americans, regardless of their political party", he said. In a Bloomberg Opinion piece, Dudley argued that Fed officials should fight against Trump's trade policies by not supporting economic growth.

But in Zurich Powell reiterated that he and his Fed colleagues ignore such comments when they set monetary policy. To guard against those risks and to boost below-target inflation, the Fed cut rates by a quarter point in July in what Powell called a "mid-cycle adjustment" and "not the beginning of a long series of rate cuts".

The price action also indicates that gold may be fairly priced with investors unwilling to chase the market higher unless economic data continues to worsen and the central bankers are forced to make even more aggressive cuts in their benchmark rates. That is one of those times'. The mining sector lost jobs, but there were gains in healthcare and financial services.

Trump dismissed critical assessments, saying in a tweet, ' The Economy is great.

Related:

Comments

Latest news

IPhone rumors you should know ahead of Apple's big event
For years now, Apple has hosted events in the fall to launch new iPhone models ahead of the holiday shopping season. Sadly, Kuo says Apple will still keep the 5W charger around in the 6.1-inch iPhone box for at least another year.

Sri Lanka claim consolation win in T20 series against New Zealand
Santner returned impressive bowling figures of 3-12 from his four overs including a maiden with his left-arm spin. Sri Lankan captain Malinga has once again struck the Kiwi batsmen by eating havoc with his balls.

Deaths linked to vaping unveil a complex array of inhaled substances
Symptoms of the pulmonary disease observed in these patients include coughing, shortness of breath, nausea and fatigue. In Illinois , X-rays revealed abnormalities in patient lungs, and almost all patients were hospitalized, Layden said.

Boks mourn loss of 'legend' Chester Williams
Cape Town - Deceased former Springbok wing Chester Williams anxious about his health for some time, a report has indicated. Current and former rugby players, as well as other South African sporting icons, paid their respects.

Hansen says All Blacks embrace World Cup pressure
The World Cup victor thinks there are already enough obstacles in the way of countries such as Tonga without making things even more hard on them.

Other news